home Stories Oakbay Justifiably Prevails Accounts Closure Court Case; 7000 Native Jobs Saved

Oakbay Justifiably Prevails Accounts Closure Court Case; 7000 Native Jobs Saved

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Oakbay, a fighter of SA natives, has yet again prevailed in its accounts closure case, thus truly justifying this win for its 7000 native employees. Bank Of Baroda has been specifically instructed to keep the Oakbay accounts open for the next 15 days as per The North Gauteng High Court verdict on Monday. Judge Makgoka has granted this application to #Gupta owned companies to smoothly run their bank accounts’.

This win comes in the light of the recent court case commotion between Bank Of Baroda and Oakbay in which the court had favored BOB to close the accounts of Oakbay on 21st September, 2017. BOB had argued that it faces a “reputational risk” should it continue to do business with the Gupta owned holding firm. Oakbay had re-appealed resulting in the case win.

Oakbay has been unnecessarily embroiled in this white monopoly nuance of strategically closing the holding firm’s banking accounts in South Africa. Oakbay currently comprises of 20 companies, thus employing 7000 SA natives.

As per the big expose by WMCLeaks, WMC corrupt Trevor Manuel had strategized an entire scenario in collaboration with the BOB sell-out Manoj Kumar Jha in order to compel the bank in closing Oakbay’s bank accounts. This Oakbay win has foiled this entire strategy of WMC.

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  • yarwellnofine

    Let’s not get too excited. This is merely temporary reprieve. They have to be back in court in December.

    A lot can happen between now and then.

    • Martiz

      Exactly a lot can happen between now and then. The judiciary has proved its mettle and showed the mirror to the WMC bosses whose attempts of downgrading Guptas went invain.

    • mphafane.bosch

      Yes, but at least Gupta’s employees will be able to feed their families till the final verdict comes in December, they won’t live in any dilemma of being abandoned so abruptly.

  • Josefa

    The truth shall ultimately prevail, it is not just a win for the Guptas but also for the people of SA whose trust has been reinstated in judiciary.

  • mphafane.bosch

    A fair decision by the court indeed, BOB decided to close Gupta’s account on just FEARS of wrong transactions. It was a complete insane decision by BOB, unless it was forced by WMC bosses who should actually be blamed for this whole fiasco.

  • Jonkar

    Bank of Baroda was resting at peace for a long time, and suddenly it decides to freeze Guptas’ account all of a sudden citing ‘association risks’! A slap for the BOB who did not care about the numerous people employed in the firms and a sigh of relief for the Guptas!